Strathcona Resources (TSE:SCR) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Strathcona Resources Ltd. (TSE:SCR)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$29.13 and traded as low as C$26.54. Strathcona Resources shares last traded at C$26.69, with a volume of 77,258 shares changing hands.

Analysts Set New Price Targets

SCR has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on shares of Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. TD Securities cut their target price on shares of Strathcona Resources from C$34.00 to C$30.00 in a research note on Tuesday, October 1st. Jefferies Financial Group decreased their price target on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research note on Monday, September 16th. Finally, Standpoint Research upped their price objective on Strathcona Resources from C$40.00 to C$42.00 in a research note on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$34.25.

Strathcona Resources Trading Down 6.4 %

The firm has a market cap of C$5.72 billion and a P/E ratio of 6.21. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The firm has a fifty day moving average of C$29.13 and a 200-day moving average of C$31.23.

Strathcona Resources (TSE:SCR) last posted its earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share (EPS) for the quarter. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. The company had revenue of C$992.90 million for the quarter, compared to analysts’ expectations of C$978.00 million. Equities research analysts forecast that Strathcona Resources Ltd. will post 2.8494405 earnings per share for the current year.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, September 16th. Strathcona Resources’s dividend payout ratio (DPR) is 23.26%.

Insider Activity

In other Strathcona Resources news, Senior Officer Scott Seipert acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of C$30.50 per share, with a total value of C$152,500.00. In related news, Director Navjeet Dhillon bought 3,455 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average price of C$31.75 per share, with a total value of C$109,696.25. Also, Senior Officer Scott Seipert purchased 5,000 shares of Strathcona Resources stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of C$30.50 per share, with a total value of C$152,500.00. Corporate insiders own 91.34% of the company’s stock.

Strathcona Resources Company Profile

Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.